Milton Friedman

Friedman's career as a policymaker largely ended in failure. (...) Very few of Friedman's most cherished proposals were ever put in to practice. Of those that where - such as monetarism - almost all turned into failure. (...) Today no mainstream academic economist is a monetarist and Friedman left no lasting school of academic heirs. Even the "Chicago school" at the University of Chicago has waned in influence. (...) But Friedman's ideas of directly targeting the money supply were tried and rejected as a failure, in both the UK and the US, and Friedman himself backed away from his dogmatic earlier positions. [1]